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Sarah Mitchell

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Compass Real Estate · Colorado

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Colorado housing market

The typical home in Colorado is worth $532,748, down 1.4% over the past year. Homes that actually closed went for a median of $617,000 after 35 days on market. On supply, pricing discipline, and speed of sale, Colorado currently reads as a balanced market at 4.2 months of supply. At today's 7.03% 30-year fixed rate, that typical home costs $2,844 a month in principal and interest with 20.0% down.

Sources: Zillow, August 2026 · Refreshes monthly · Redfin, through May 2026 · Freddie Mac via FRED, September 2026

Colorado housing market at a glance

Every tile carries the provider and the month it was published

Typical home value

$532,748

-1.4% YoY · Zillow, August 2026

Median sale price

$617,000

Redfin, through May 2026

Typical asking rent

$2,096/mo

Median of 76 cities · Zillow, August 2026

30-yr fixed rate

7.03%

Freddie Mac via FRED, September 2026

Monthly P&I

$2,844

20.0% down, 30-yr fixed

Days on market

+3 days YoY

Active listings

29,533

-8.2% YoY

Median household income

$92,470

U.S. Census ACS, 2023

Typical home value is Zillow's ZHVI — the value of a typical home across the whole housing stock, not just the homes that sold. Median sale price is what actually closed. Redfin stopped publishing public market trackers in June 2026; latest available period is May 2026.

Where Colorado home prices are heading

Colorado's typical home value is $532,748, down 1.4% over 12 months. The two-year number matters more than the one-year number: it spans a full rate cycle rather than a single seasonal swing. Values are currently 4.1% below their two-year high, which means sellers who bought at the top may need to bring money to closing rather than take equity out of it.

Against the national picture, Colorado runs 44.5% above the U.S. typical home value of $368,697, and its 12-month move of -1.4% is trailing the national pace of +1.2%.

What would have to change for Colorado prices to fall. Prices fall when supply outruns demand for long enough that sellers compete on price rather than waiting. Colorado is carrying 4.2 months of supply — inside the four-to-six-month band where neither side dictates terms. Active listings are -8.2% year over year and new listings -15.7%, so supply is still tightening, which supports prices even with weak demand. The other lever is the rate. At 7.03%, existing owners with cheaper mortgages have little reason to list, which is what has kept supply artificially low across most of the country. A sustained move down in rates unlocks those sellers and adds inventory; it also adds buyers. Which side moves first decides the direction.

Market trends

Statewide monthly series · Redfin, through May 2026 · No longer updating · Redfin stopped publishing public market trackers in June 2026; latest available period is May 2026.

What it costs to buy in Colorado at today's rate

Down payment

$106,550

20.0% of value

Loan amount

$426,198

30-yr fixed

Monthly P&I

$2,844

at 7.03%

Income needed

$121,886

28.0% front-end ratio

A buyer purchasing the typical Colorado home at $532,748 puts $106,550 down, finances $426,198, and pays $2,844 a month in principal and interest. Property taxes, homeowners insurance, HOA dues, and mortgage insurance sit on top of that and vary by county — budget for them separately rather than assuming the P&I figure is the payment.

Lenders typically want principal and interest under 28.0% of gross income, which puts the qualifying income for that purchase at roughly $121,886. Colorado's median household earns $92,470 (Census ACS 2023) — a gap of $29,416 above what the median household brings in. Put differently, the median household would spend 36.9% of gross income on principal and interest alone — above the ratio most lenders underwrite to, which is why buyers here typically need a larger down payment, a co-borrower, or a cheaper city than the statewide typical home.

The value-to-income ratio in Colorado is 5.8x. Anything above 5x means prices have run well ahead of local earnings; buyers are relying on dual incomes, prior equity, or outside capital rather than local wages. Model your own numbers in the affordability calculator or the mortgage calculator.

Figures are illustrative, not a quote or a pre-approval. Rate: Freddie Mac via FRED, September 2026 · Value: Zillow, August 2026 · Income: U.S. Census ACS, 2023

Buying in Colorado in the next 12 months?

Tell us your timeline. We send the Colorado market brief: the price ranges that are actually clearing, the cities where your budget goes furthest, and what to fix on your credit before you apply.

Rent or buy in Colorado?

Zillow publishes its rent index per city rather than per state, so the honest statewide read is the median across the 76 largest Colorado cities that carry it: $2,096 a month. Set against a typical home value of $532,748, that is a price-to-rent ratio of 21.2x.

Above 20x, the arithmetic favours renting over short horizons: the purchase premium takes years of appreciation to recover, and that appreciation is not guaranteed. Principal and interest on the typical home runs $748 more per month than that typical rent — and that is before taxes, insurance, and the roughly 1% of value a year most owners spend on maintenance.

For a second read on the same question, the Census ACS puts median gross rent across all Colorado households — every unit type, not just what is currently listed — at $1,693 a month (2023), with 66.3% of Colorado households owning rather than renting. Asking rents lead the ACS figure because they reflect today's new leases rather than the whole stock of existing ones.

Run the rent-vs-buy calculator with your own holding period and down payment — the statewide ratio is a starting point, not an answer.

Supply: what is on the market in Colorado

Colorado inventory, new listings, sales, and supply, latest month versus the same month a year earlier
Measure	Latest	Year earlier	Change
Active listings	29,533	32,156	-8.2%
New listings	12,072	14,328	-15.7%
Homes sold	7,115	7,497	-5.1%
Months of supply	4.2	4.3	-0.1
Sale-to-list ratio	98.8%	98.9%	Below asking

What these mean. Active listings is the shelf — everything a buyer could tour today. New listings is restock rate; when it falls faster than sales, the shelf empties. Months of supply is active inventory divided by homes sold per month: at the current sales pace, how many months it would take to sell every home currently listed. Under 4 months of supply tilts toward sellers, 4 to 5 months is the neutral band, and above 5 months tilts toward buyers — above 7 months is a glut. These are the same thresholds the market verdict on every city and ZIP page is scored against. Sale-to-list ratio is the discipline check — above 100% means homes are clearing over asking on average, below means sellers are conceding.

Redfin, through May 2026 · No longer updating — Redfin stopped publishing public market trackers in June 2026; latest available period is May 2026. Zillow's inventory and new-listing counts are published per city and appear on the individual city pages.

Where Colorado home values are moving fastest

12-month change in typical home value · Zillow, August 2026

Rising fastest

Falling

Computed from Zillow's typical home value for each city at August 2026 against the same month a year earlier, across the 150 largest Colorado cities by population. Small markets swing hardest because a handful of transactions moves the index — read the city page before treating a large move as a trend.

The most and least expensive cities in Colorado

Typical home value across the 150 largest cities · Zillow, August 2026

Most expensive

Most affordable

1.Sterling$246,799
2.Florence$280,592
3.Pueblo$282,535
4.Brush$299,176
5.Craig$311,396
6.Stratmoor$321,732
7.Fort Morgan$329,227
8.Clifton$333,082
9.Derby$363,187
10.Security-Widefield$374,243

The spread between Aspen and Sterling is 13.9x — one reason a single statewide number is close to useless for a buyer with a fixed budget. Pick the city first, then the price band. Speed is a separate axis from price: Columbine Valley was the quickest of these markets to clear at 3 days on market (Redfin, through May 2026).

How Colorado compares

Colorado typical home value, 12-month change, median household income, and value-to-income ratio compared with the United States and neighboring states
Market	Typical value	12-mo change	Median income	Value / income
Colorado	$532,748	-1.4%	$92,470	5.8x
United States	$368,697	+1.2%	—	—
Utah	$534,582	+1.5%	$91,750	5.8x
New Mexico	$318,241	+1.7%	$62,125	5.1x
Arizona	$417,990	-1.1%	$76,872	5.4x

The three states above are Colorado's nearest land neighbours — the markets buyers most often price against when a move is still negotiable. New Mexico and Arizona carry lower typical home value than Colorado, which is what makes them the usual destination for equity-funded moves out of Colorado.

Values and 12-month changes: Zillow, August 2026 · Refreshes monthly. Income: U.S. Census ACS, 2023. ACS publishes household income per state, not for the nation on the same basis, so the U.S. row shows home value only.

Colorado housing markets by city

327 cities tracked — the 60 largest by population shown

Denver

$524,695

Colorado Springs

$441,553

Aurora

$452,698

Fort Collins

$560,192

Lakewood

$556,597

Thornton

$492,295

Arvada

$600,934

Westminster

$514,933

Pueblo

$282,535

Greeley

$415,216

Centennial

$632,941

Boulder

$948,693

Highlands Ranch

$694,234

Longmont

$544,848

Loveland

$496,109

Castle Rock

$660,519

Broomfield

$620,899

Grand Junction

$422,821

Commerce City

$480,050

Parker

$676,203

Littleton

$617,467

Brighton

$490,018

Security-Widefield

$374,243

Northglenn

$452,833

Windsor

$578,070

Pueblo West

Pop. 35K

Dakota Ridge

Pop. 34K

Englewood

$501,780

Ken Caryl

Pop. 33K

Wheat Ridge

$591,554

Erie

$721,458

Lafayette

$668,333

Fountain

$387,749

Columbine

Pop. 26K

Evans

$391,463

Four Square Mile

Pop. 22K

Louisville

$824,821

Montrose

$467,125

Golden

$857,136

Clifton

$333,082

Sherrelwood

Pop. 19K

Durango

$765,056

Cimarron Hills

Pop. 19K

Fort Carson

Pop. 18K

Johnstown

$499,377

Firestone

$569,501

Cañon City

Pop. 17K

Welby

Pop. 16K

Frederick

$534,872

Greenwood Village

$1.40M

Black Forest

Pop. 15K

Federal Heights

$385,102

Lone Tree

$877,385

Fruita

$486,184

Steamboat Springs

$1.31M

Sterling

$246,799

Superior

$812,595

Castle Pines

$885,471

The Pinery

Pop. 12K

Berthoud

$607,128

Browse all 327 Colorado cities Compare every state →

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What to do next in Colorado

If you are buying

Set the payment before the price. Start from what you can carry monthly, then work backwards with the affordability calculator — the typical Colorado home is $2,844/mo in P&I today.
Pick the city, not the state. Values across Colorado run from $246,799 in Sterling to $3.44M in Aspen.
Put two finalists head to head in the city comparison tool before you tour anything.
Fix the credit file before you shop the rate. A better score moves the payment more than haggling over price does at 7.03%.

If you are selling

Price against your city, not the statewide figure — the spread between Colorado markets is wider than the year-over-year move in any of them.
Read the supply table above. At 4.2 months of supply, neither side has leverage, so presentation and pricing accuracy decide the outcome.
Watch days on market in your city, not the state. The statewide median was 35 days (Redfin, through May 2026); your city page carries its own.
Time the listing against new-listing volume. New listings are -15.7% year over year — less competition than a year ago.

Colorado housing market questions

What is the typical home value in Colorado?

The typical home value in Colorado is $532,748 (Zillow, August 2026). That is a -1.4% change over the past 12 months. The median price of homes that actually sold was $617,000 (Redfin, through May 2026); sale prices skew toward whatever segment is transacting, which is why they differ from the typical-value figure.

Are Colorado home prices going up or down?

Colorado home values are down 1.4% year over year (Zillow, August 2026). Values sit 4.1% below their highest reading in the past two years.

How much income do you need to buy a home in Colorado?

At the current 30-year fixed rate of 7.03%, a $532,748 home with 20.0% down carries roughly $2,844 a month in principal and interest. Using the 28% front-end ratio most lenders underwrite to, that implies a household income of about $121,886 before taxes, insurance, HOA dues, or mortgage insurance are added. Colorado's median household income is $92,470 (Census ACS, 2023), a gap of $29,416 above the median household. These figures are illustrative, not a quote or a pre-approval.

Is it cheaper to rent or buy in Colorado?

Typical asking rent across the largest Colorado cities Zillow publishes rent data for is $2,096 a month (median of 76 cities, Zillow, August 2026). Against a typical home value of $532,748, that is a price-to-rent ratio of 21.2x. Ratios under about 15x generally favour buying if you plan to stay put; above about 20x, renting and investing the difference tends to win over short horizons. Principal and interest alone runs $748 more than that typical rent each month, before taxes, insurance, and maintenance.

Which Colorado cities are the most affordable?

Among the largest cities we track in Colorado, the lowest typical home values are in Sterling ($246,799), Florence ($280,592), Pueblo ($282,535), Brush ($299,176), Craig ($311,396). Values are Zillow's typical-home-value index for August 2026.

Which Colorado cities are the most expensive?

The highest typical home values among the largest Colorado cities are in Aspen ($3.44M), Cherry Hills Village ($3.22M), Snowmass Village ($2.49M), Edwards ($1.74M), Vail ($1.73M). Price per square foot, inventory, and days on market for each are on the individual city pages.

Which Colorado cities are appreciating the fastest?

Over the past 12 months the largest home-value gains among Colorado cities we track were in Snowmass Village (+12.1%), Aspen (+7.3%), Basalt (+6.1%), Cherry Hills Village (+5.5%), Carbondale (+5.2%). Fast appreciation usually reflects constrained supply, in-migration, or a small transaction base — check the individual city page before reading it as a trend.

How long do homes take to sell in Colorado?

Homes in Colorado spent a median of 35 days on market in the last month Redfin published (Redfin, through May 2026). That is 3 days slower than the same month a year earlier. The quickest market among the state's largest cities was Columbine Valley at 3 days. Redfin stopped publishing public market trackers in June 2026; latest available period is May 2026.

How does Colorado compare to neighboring states?

Colorado's typical home value of $532,748 compares with Utah at $534,582, New Mexico at $318,241, Arizona at $417,990. The U.S. typical home value is $368,697, putting Colorado 44.5% above the national figure. New Mexico and Arizona are cheaper on a typical-value basis.

Is now a good time to buy in Colorado?

That depends on your timeline, not the headline. The measurable inputs today: a 30-year fixed rate of 7.03%, 4.2 months of supply statewide (Redfin, through May 2026), active listings -8.2% year over year, and home values -1.4% over the past year. Buyers with a five-year-plus horizon are mostly exposed to the payment, not the price, so the rate you can qualify for matters more than the month you buy. Properties Incorporated is an independent data platform, not a brokerage or lender — this is information, not advice.

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